By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index shed 0.49%, or 17.17 points, to 3,495.81 points on Monday on the back of profit-taking, especially on blue chips.

The services sector led the market’s losers, sinking 1.6%, after Amanat Holdings tumbled 2.8% to AED 1.39, while the real estate sector lost 0.8% after Arabtec Holding and Drake and Scull International (DSI) went down 2.2% and 1.8%, respectively.

Emaar Properties levelled down 1.6% to AED 5.67, while Emaar Development fell 1.37%.

The consumer staples sector lost 0.73%, as DXB Entertainments sank 0.8%, and the transportation sector fell 0.5% after Air Arabia levelled down 0.76%.

The banks sector’s shares were collected, despite the instability in the markets, said Mohab Maher, Mubasher’s senior sales trader.

On the other hand, the banks sector inched up 0.09%, as Dubai Islamic Bank (DIB) rose 0.15%.

The DFM’s trading volume surged 96.2% to 359.94 million shares from 183.47 million on Sunday, while the market’s liquidity dropped 13.4% to AED 240.67 million, compared to AED 277.97 million in the previous session. 

Investors on the market are very cautious, which weakened its performance and reduced the liquidity as well, Maher continued.

The current turnover is not enough to boost the market or attract investors, the analyst concluded.

Translated by: Muhammad Khalid